Productivity up by 1.9%
Productivity increased at a 1.9 percent annual rate during the third quarter of 2012, the U.S. Bureau of Labor Statistics reported today.
The increase in productivity reflects increases of 3.2 percent in output and 1.3 percent in hours worked.
Manufacturing sector productivity declined 0.4 percent in the third quarter of 2012, as output and hours worked decreased 0.6 percent and 0.2 percent, respectively. Productivity fell 0.7 percent in the durable goods sector and 0.1 percent in the nondurable goods sector. Over the last four quarters, manufacturing productivity increased 1.5 percent, as output increased 4.1 percent and hours worked rose 2.6 percent. Unit labor costs in manufacturing rose 1.5 percent in the third quarter of 2012 and decreased 0.8 percent from the same quarter a year ago.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
